Reuters: US Dollar Report: CANADA FX DEBT-C$ slightly stronger ahead of Fed, Bank of Canada news

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CANADA FX DEBT-C$ slightly stronger ahead of Fed, Bank of Canada news Jun 19th 2013, 13:25 Tweet Share this Email Print Wed Jun 19, 2013 9:25am EDT * C$ at C$1.0190 vs US$, or 98.14 U.S. cents * Traders await commentary from Fed, Bank of Canada By Alastair Sharp TORONTO, June 19 (Reuters) - The Canadian dollar was slightly stronger against its U.S. counterpart on Wednesday ahead of appearances by the heads of both countries' central banks. Bank of Canada Governor Stephen Poloz will make his first public address since he testified June 6 in the House of Commons, days after taking office. In the afternoon speech, he may provide hints as to whether he will maintain the rate-hiking bias of his predecessor. Of more global significance, the U.S. Federal Reserve will at roughly the same time provide an update on its monetary policy outlook, including a possible timetable for slowing its asset-buying program. "The Fed statement, everyone is waiting for it. Poor Mr. Poloz is going to be well overshadowed in his first public speaking engagement," said John Curran, senior vice president at CanadianForex. "But I'm not looking for the Bank of Canada governor to be too much out of the box and with the Fed, I don't expect a great deal of change there," he said. Poloz's speech, before a business conference in Ontario, is scheduled for 12:40 p.m. (1640 GMT). In Washington, the policy-setting Federal Open Market Committee will announce its decision at 2 p.m. (1800 GMT). Fed Chairman Ben Bernanke will hold a news conference 30 minutes later The Fed's rate setters are expected to leave policy ultra-loose following the central bank's monthly meeting but may hint they will start scaling back its bond buying later this year if the U.S. labor market continues to improve. At 8:52 a.m. (1252 GMT) the Canadian dollar was trading at C$1.0190 to the greenback, or 98.14 U.S. cents, compared with C$1.0210, or 97.94 U.S. cents, at Tuesday's North American close. Curran said notwithstanding any major surprises from the central banks, the Canadian dollar would likely trade between C$1.0170 and C$1.0260 on the day. The price of Canadian government debt was higher across the curve, with the two-year bond up 2 Canadian cents to yield 1.109 percent, while the benchmark 10-year bond rose 16 Canadian cents to yield 2.143 percent. Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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